guy: in terms of numbers, what can we expect from barclays?st important thing for barclays will be how they will weather the hit from brexit. for all the u.k. banks, such as hsbc tomorrow, barclays on thursday, the question is what are the kinds of impairments if any they are going to be taking for expenses with brexit as well as potential consumer loans? guy: the french banks have had a horrible time in trading. i am wondering if there is a read across on bnp in terms of what we can get on barclays. >> they are definitely similar businesses. the market route of the fourth quarter reverberated around the world. the french banks were hardest hit because they were furthest out on the risk curve. there is no doubt that we will be seeing some of that impact flow through for the u.k. banks. guy: hsbc? >> that is tomorrow. or bracingcting ourselves for some sort of impact. guy: let's talk about hna and deutsche bank. how on earth did hna, which used to be a significant holder in deutsche bank, get off at a reasonable price? they got out at 16? doubl

barclays has learned on -- the firm owned around 2% at barclays.stock is down 21% over the last year. what they are basically done is not renewed options. let's take a look at what all of this means and the wider story surrounding the european sector right now. rolloff, wasn't it? they were a supporter, and the stock has gone down about 20% since they bought. i guess they figured enough was enough.they certainly don't seem to be any catalysts to the upside emerging anytime soon. if you are daley, you have tighter global reading done in. said they wereer a strong out into the strategy or that strategy. for them, it was a matter of looking at the numbers and the what the price-to-book was.they were looking at ratios . it was strictly on that basis. if i remember correctly, they had a logic to a tax bill that was coming off. committednt, any investor, that is a tough one. guy: what are we going to get from barclays this? if you look at bnp and soft general, not been a great time for european banks when it comes to trade. james: it has been a tough tra

barclays,taley of spirited on the positioning of barclays over the next five years.how a chart, normalized banks back to the lehman low. american banking and the proxy is juggernaut jpmorgan, bnp paribas, and the complete failing of e.u. banking. in davos this year, the backstory was a you banking has to get cleared. we see deutsche bank with two major stories in the last 48 hours. how do you fix e.u. banking? ed: it does not get fixed. i do not see anything that is going to make europe get better. point,re it will at some but sitting here with you today, there is no inflation. the ecb will have to stay on hold, so i do not see any particular catalyst for the banks in europe. in the united states, bank loans have improved significantly in the past three or four months. in europe, they just continue to muddlelong at a lopez -- along at a low pace. tom: moynahan, dimon, the rest of the bankers hang on your each and every word. are they constrained because of andrew jackson, because we are afraid to let our thanks -- banks get bigger? ed: they do not hang on my every wo

barclays, what is the story? 30one analyst summed it up well.said the earnings of barclays possibly good enough. that fits right in. these were in line with what analysts are expecting. division, revenue only declined by 2.5%. the other good thing is the ceo said the bank is looking to return capital to shareholders. that is something that is appreciated and probably help him a little bit in his personal fight against activist investors. we will watch that closely. at the opening. --o, almost a like there is murphy's law of asset managers. saying they are finally dismissing tim heywood, the manager under investigation. in a spiralto be downward. hard to see how they can recover from this. matt: thank you, very much. appreciate you joining us. get the latest stocks and stories from our equities team. coming up, it is the market open. futures are pointing higher. matt: we are just about one minute away from the start cash equity trading. let's take a look at the markets this morning. a pretty interesting one, i want to kick it off with china. shar

ceos: let's get to our next at barclays.to return more cash to shareholders as the reported ak fourth-quarter operating profit matching estimates. there's a reason this man has a smile. welcome him to the bloomberg show. you are promising buybacks. buybacks. are you in the zone of rbf? of numbers can you tell us or guidance can you give us? >> for 2018, we more than trebled the capital we returned to shareholders. in the fourth quarter, we paid around 700 million pounds purchasing or repurchasing preferred stock. more than three times 2017. we took a special reserve in the fourth quarter. increase theo return of capital to our 2019.olders in in a progressive dividend. let's see how the buyback program unfolds. part of that decision down to the numbers. can you give us a little more detail and color how the markets division did? the markets division did well in 2008 teen. we gained market share. for the year, our markets revenue were up 12%. the u.s. banks were up 5%. we had the strongest performance of any of our competitors

and the fact that barclays will not be supportive of that move.s in seems like barclays a stronger position today than it was a few months ago. vonnie: of course, it is the perfect day to say that the bonus is rising for the first time in 20 years. the group incentive of 9%. know, one has to remember though that with brexit looming around the corner there are -- it is very important for the banks to signal strength, whether it is in the form of capital reserves, whether it is in the form of dividends to shareholders and buybacks. you see u.k. banks embarking on these types of shareholder friendly moves, so that they can reassure the investors and of the market that they are in good shape to whether the turmoil. guy: is a brexit related? -- it brexit related? they are about to go through a bumpy ride. sree: yes, it is not just brexit, but that is the signaling they are giving to the market that they are well prepared to whether any kind of turmoil. guy: sree, thank you very much. our finance editor. an interesting day for banks. and a quick look at

. >>> shares of barclay's are moving higher after reporting results, and we have fresh comments fromhe bank's ceo overnight. let's get to juliana in london live with more on those details. a big bank reporting some big numbers. what did he have to say? >> yes, indeed barclay's has reported a beat on fourth quarter profit before tax, although full-year profit did miss expectations. this comes after the bank took a 150 million pound brexit provision. really follows what we've seen from the other u.k. banks. hsbc and rbs recently announced similar provisions now, barclay's reported a dif debd of 6.5 pence per share and said it intends to grow that progressively, and will consider additional returns, including buy-backs as soon as practical quite strong language around the potential for further returns from barclay's now, as you said, we did get a chance to sepeak to the ceo earlier on the show. take a listen to what he had to say about the fourth quarter earnings results demonstrated that they're on track we have recapitalized the bank we have put all of our legacy issues behind the ins

barclays has reported a profit of £3.5 billion for 2018, unchanged on the previous year.born activist investor who controls over 5% of ba rclays shares. he wants the bank to resctructure, scale back its investment bank operation. it‘s worth noting barclays shares are 30% down from 2015 when the present boss jes staley took over. let‘s talk to laith khalaf, senior analyst at hargreaves lansdown. first, putting money aside for brexit, everyone is doing it at the moment, do you think they are doing enough? is the reality is that we don't know. the amount they have put aside, £150 million for barclays, could prove to be overly cautious, and it could be insufficient as well. we don't know when they don't know. and that is the problem with the uk banking sector at the moment and explains the lowly share prices we have seen on a lot of that banks. the performance for barclays over the three years has been poor, and thatis the three years has been poor, and that is a big factor in that, brexit. so the market doesn't like uncertainty, and given that we have brexit looming, we don'

what's important for barclay's is we're a british bank, and we're staying kmid to the u.k. a downgrade would not be beneficial to the u.k. by any means. we do think the markets are basically pricing in a fair -- a fairly negative story right now, so overall let's see what happens. it would be great to have this uncertainty behind us. barclay's is standing by ready to help our small businesses, corporates and consumers across the u.k. no matter what happens. >> barclay's moved towards a more you generous dividend policy and that comes after a year of increased pressure from -- staley told cnbc they had already made progress on shareholder returns. >> we dealt with all the legacy conduct issues and legal issues, which is all now behind us our obligation is to return excess capital to our shareholders in 2018 we more than tripled the amount of capital that we did return to shareholders we ploern doubled the dividend to 6.5 pence, as you said, and then in the fourth quarter, very importantly, we returned some 700 million pounds of capital to preferred equity stake holders that

spoke with usley overnight and said he thinks barclays is on the right course. >> what i do think barclays needs is consistency. we need to have a stable strategy that people can get behind and drive revenue growth. david: this is consistent with what jes staley has had from the beginning. is he succeeding? >> he is succeeding in staying consistent. he talked about the story of the it is one ofnk, managed decline. this is a business that is still making a negative return on tangible equity. he can tout the fact that they have gained some market share, they will try to return capital to shareholders. that underlying story of the strategy is still very in question. david: how much of it is him in that business as long as i can stay in it and not lose my shirt? basically weighing the option, it is an expensive one. people like bramson are saying, "why?" it's a way to say hang on with me and give me a chance and let's get through this. shareholders are giving him a bit of credit today. david: michael mckee and christine harper, thank you both very much. you can find all the traits we just used

we all know banks are being hit by increasing numbers of it shutdowns, tsb, visa, barclays, cashplusrned that the number of incidents last year runs into dozens with some big banks reporting 30 or a0 breakdowns or hacks in the last nine months. uk banks have begun publishing the number of operational and security incidents under a voluntary scheme overseen by the financial regulator. let's talk to kevin peachey, the bbc‘s personal finance reporter. let's just try and define what these incidents are. what do the range to and from? this is operation or security incidents and they are ones that stop people, customers, being able to make payments. the frustrating times when your online banking goes down or your mobile banking goes down or your mobile banking app. and you can't make a payment. it is the first time that banks have told us the frequency of these cases and their are —— there is quite a range, for example the top one is barclays, with 41 cases in the nine months to the end of last year. many of those are minor glitches, they say, but it has been transparent about all of them.

tiger global selling its stake in barclays. what do we know about that?fierce rivals and reported they have sold it. the interesting thing is because tiger global was one of the big supporters of turning the bank remember,ich if you the investors have been opposed to. he is trying to get a seat on the board and has been fighting them. if the report is true, he loses one of his supporters. people have been talking all about how hard it is to do any changes to investment banks by activists, because there are so many capitals. it is not like they can say, get rid of that, and improve your margins here. but he has been digging in his heels. let's see how this helps him, if the report is true. anna: what does this tell us about the future direction of barclays strategy? let's talk about a big mover on the stoxx 600. that ceo, who is leaving, has done a lot of deals. what do we know about m&a for this business? ruth: it is interesting because two years back when he bought it, and then right after the deal the business was not performing very well and the compan

this was mr barnier after his meeting with mr barclay.owed up on the meeting with theresa may last week, and we had constructive talks with the secretary of state. it is clear that we will not reopen the withdrawal agreement, we will continue our discussion in the coming days. thank you very much. blu ntly, we coming days. thank you very much. bluntly, we seem to be waiting for mr godot to turn up, so we wait until the end of the month to see whether they will try to force mrs may's hand. even then, there is a possibility that some of the tory remainers, tory ministers who have threatened to resign in protest at the danger of no deal, may still bulk at the idea of actually quitting, and it is not clear that late stage if mps decided to try to put down amendments, putting parliament in the driving seat, whether they would have the numbers to defeat the prime minister. thank you, norman. anyone who has a serious criminal conviction will be barred from getting a taxi license under plans being set out today. the government wants to introduce

barclays spent arrangements for what happens. ba rclays spent £200 arrangements for what happens.n, allocated £200 million in spending oi'i allocated £200 million in spending on the post brexit bill. they can sustain that. they have the capacity to sustain that. big multinational organisations, they have the staff and the money. the problem is the small and medium—sized businesses who are not as prepared and who don't know how to deal with the uncertainty in the same way. all right, let's move on to the times, henry, and an excellent scoop from anthony loyd in northern syria, one of the three schoolgirls, i think many remember those sort of cctv images of them i think it was arriving at some kind of bus depot with turkey, the three of them together, one of them we understand has died and the other one, one of the other ones is still alive, but this girl has now been speaking from the it isa it is a really extraordinarily detailed interview from anthony loyd. lots of people will remember, it was quite a totemic moment in the rise of isis, these three british schoolgirls from bethna

meaning westerbound 37 remained closed from atherton avenue to highway 101sot officer andrew barclay/chp :16while little work was done tuesday afternoon, caltrans trucks did try to plow water out of the road and over newly installed concrete barriers. new black top has been layed in lowlying stretches to raise the roadway anywhere from 6-10 inches... but it's not complete.sotuntil the water is gone and the new pavement is safely in place, westbound traffic will continue to be diverted off at atherton avenue and forced onto this two lane road to get to highway 101. (grant) happening later tonight... lanes on the richmond san rafael bridge will be closed as caltrans works to repair the areas where concrete fell. that mis-hap was a couple weeks ago... but last week's weather prevented crews from performing the permanent repair. a metal plate was installed as a temporary fix. now...crews will be fixing an expansion joint that failed on the upper level. it caused the concrete to fall onto the lower level where drivers were traveling eastbound... the work will also involve inspecting all of

we are trying to get in touch with andrew barclay from chp right now. can you hear us?e are having a little bit of difficulty getting in touch with our chp officer. when he saw the photo earlier, it said chp said they were golf ball sized concrete chunks. looking on social media, there was a picture of someone holding his hand right near a chunk of concrete. it's obviously a lot bigger. this is a huge concern because there could be structural damage to the bridge. no timeline in terms of when they will figure this out. >> now we are going to talk to chp andrew barclay grade are you on the phone? >> i am. >> good see so of tic ving theu st trying to get those cars stuck in the gridlock over the bridge but not let anyone else on? >> exactly. that is the plan right now. we understand people were initially stuck behind the closure. our concern getting them off the bridge, but obviously we need to do that safely, that would involve us making sure no more concrete would be falling as were trying to get across. >> we are seeing the lower part of the bridge going east, what abo

emma: that was the ceo of barclays., we will have more news from the banking sector with several european lenders in the spotlight for all the wrong reasons. but come upon it -- but, coming up, back to brexit. amid all the uncertainty there was one piece of news that that the city of london side of -- heaving a sigh of relief. >> both sides of the channel that worked to put in measures to ensure stability. emma: this is bloomberg. ♪ the latest innovation from xfinity isn't just a store. it's a save more with a new kind of wireless network store. it's a look what your wifi can do now store. a get your questions answered by awesome experts store. it's a now there's one store that connects your life like never before store. the xfinity store is here. and it's simple, easy, awesome. emma: you are watching "bloomberg best." i'm emma chandra. top executives from companies reporting earnings spoke with bloomberg throughout the week, and the conversation took a macro turn discussions of -- toward discussions of economic headwin

the brexit secretary, stephen barclay is due to be back in brussels tomorrow for a meeting with his eu week, the attorney general, geoffrey cox is expected to make a rare speech in which he will outline how the government will eliminate any legal risk to stop the irish backstop becoming indefinite. and the prime minister is scheduled to have another meeting with the president of the european commission, jean claude—juncker as well. with me is our political correspondent, pete saull. what is the point of this letter to mps, some of whom we know are opposed to her deal as it stands, largely because of the backstop? there is not a great deal of new material, in terms of substance but i suppose it is a tacit acknowledgement from the prime minister that tensions are growing in the conservative party, especially since the last vote in the house of commons on thursday. the government was defeated because of the abstentions of the european research group of pro—brexit mps and since then we have had lots of conservatives on the former remain side of the argument and attacking pro—brexit colleag

progress is being made, that the attorney—general, geoffrey cox, and the brexit secretary, stephen barclay had fruitful conversations with their european colleagues. leicester city part company with their manager claude puel after only 16 months in charge. venezuela's opposition leader calls on other nations to consider "all measures" to oust president nicolas maduro after several people are killed in border clashes over an aid delivery. final preparations are underway for hollywood's biggest night of the year, the oscars. there 5 hope for greater diversity amongst the winners this year after a shakeup in the membership of the academy. and in click we meet the chinese businessman behind the world's first bendable phone. that's in half an hour, here on bbc news. labour's deputy leader, tom watson, has warned jeremy corbyn has to act urgently if the party is to stay together. mr watson said labour was facing a crisis of the soul and needed to address antisemitism and what he called the hard left in the party. he also said labour was moving in the direction of supporting a second eu refendum.

barclays reportedly reducing its stake in recent days. let's get back to one of our top stories this morning. that relates to brexit and u.k. politics. seven opposition labour party mp's have quit over jeremy corbyn's brexit stance. meanwhile, theresa may kicks off a last-ditch effort with the eu to save her brexit agreements. jeff joins us now. good to have you with us. remind us why we've seen these seven opposition labour party mp's step away from the party, and specifically the party leadership. reporter: that's right. all of the seven mp's have their own reasons for leaving the labour party. has come under a lot of pressure from people within her own party. she's faced anti-semitism accusations from people within the party. one is definitely opposed to brexit. he says politics is broken, and the current political policy in westminster doesn't reflect the complex tapestry of our society. they feel so strongly about this, that their leader jeremy corbyn doesn't reflect their views and isn't going to be able to reflect their views, that

ben mentioned barclays for example, some of the big ones actually have been making some preparations.ll businesses there are a couple of things going on. one is that these preparations cost money. if you're on a tight margin, any additional cost is a potentially quite a serious problem to deal with. also, stretched management. there is a real management time involved in this. and all of it to prepare for something that they think might not happen. bear in mind, this is all very much contingency planning. if it doesn't happen, all that effort and cost put into these preparations would have been pointless and lots of small businesses especially don't want to waste time on that. it is important to state that what is in this report is predictions, it's not will happen, if we leave without a deal. it's what might happen. it is what might happen if we leave without a deal and the report also emphasises that the government's clear preference is to leave on the 29th of march, as planned, but with an agreement in place. and the agreement in place. and the agreement would mean the transition, w

you're in the barclay's center. this is where champions play. heal as a team or die as individuals. did i make myself clear? >> yeah. >> come on. >> ignore all that and we just follow the game plan. let's go, guys. >> it was time for team liquid to win in the semifinals and make me some money. >> let's go, baby. let's go! it definitely felt like a real sport. these gaming gladiators were ready for battle. >> ladies and gentlemen, the moment you've all been waiting for, team liquid versus gambit. >> click your mouse! they flexed their fingers. they clicked their butons. they adjusted their headsets. come on! let's start the the wave, starting over here! woooo! watch the stairs, watch it's oh! they fought to outmaneuver, evade, and shoot their opponents' heads off. and just when it looked like team liquid was on the ropes, they reallied. >> yeah! yeah! yeah! >> the finalist is team liquid! >> that's what i'm talking about! that's what i'm talking about, baby! woooo! number one! team liquid! are video games a sport? who cares? i'm rich. time to try

the brexit secretary, stephen barclay, says the eu has agreed to commit significant resources to tryingnts to the so—called backstop, the controversial arrangement designed to avoid a hard border in ireland. but mr barclay suggested the proposals being considered, including the use of technology to make checks on goods, would not replace the backstop entirely. he also indicated that the arrangements would not be ready in time for brexit at the end of march. the japanese car maker, honda, has confirmed it's moving production back to japan, and shutting its swindon plant, with the loss of 3,500 jobs. the company says global changes in the car industry, including a shift to electric vehicles, is to blame. but the business secretary, greg clark, has told the bbc, it's "incredibly frustrating" and "devastating" for swindon, that honda's made its decision, despite the uk being a leader in battery technology. here's our business editor, simonjack. a dark moment for uk manufacturing. swindon is the first plant honda has closed anywhere in the world in its 71—year history. a hammer blow for thou

can we talk about barclays? looking chance of a cut. can we talk about ba rclays?ng at the markets, their shares are up about 3% at the moment. they announce profits for the year. following a little short of expectations, but setting aside something like $200 million worth for brexit as a contingency. what do you make of the results? the results we re you make of the results? the results were in line with expectations. 0n the investment banking front it seems they did rather better than expected, especially thinking of some of their peers in continental europe. that was seen as quite positive but i think what is driving things here is the potentialfor a significant buy—back. we got a very large buy—back and ends from lloyds yesterday, £1.75 billion. investors will be waiting for more colour on cash return because the capital ratios, an important number... can you explain what that means? ratios, an important number... can you explain what that mean57m basically means how much capital they have set aside, strength of balance sheet, which is really important because

she is also a member of barclays legal pro bono team and the barclays women's initiative an organization that recruits and promotes mentors for women. i would like to open our panel. by looking at where sanctions have been effective in the positive lessons learned from those experiences. there are a few key lessons that our team at the atlantic council economics sanctions initiative assesses to be priorities. first the multilateral sanctions are far more effective than unilateral sanctions. that sanctions are only as effective as the policies tactical and thoughtful. that we need to be patient and strategic with implementing sanctions as they rarely prompt an immediate result. sanctions are most effective when they can be recalibrated to reflect shifting policy priorities and changing tax on the ground in considering these two key takeaways let's first look at positive examples or success stories. while the trump administration has been ahead of allies in imposing sanctions on the nicolas maduro regime to facilitate change it appears to have been done in coordination with allies. the eu

michelle barnier will be listening closely to what stephen barclay has got to say and it will be aboutther than renegotiating the brexit deal. because the withdrawal agreement, the divorce treaty is closed, as far as the eu is concerned. but it is not close as far as the uk is concerned. stephen barclay will be presenting the uk's three ideas to the backstop, at the back—up plan to avoiding checks on the irish border, if it is not solved at the future trade deal the two sides do. there is the idea of a time limit on the backstop, a unilateral exit mechanism for the uk to come out of the backstop if it comes into force and also alternative arrangements to get rid of the backstop altogether. michelle barnier will be listening to those ideas, not necessarily acting on them. because the eu thinks where the room for manoeuvre is in the separate document, the political declaration which sketches out the future relationship. that is where they are prepared to do work and apply the creativity to get the deal over the line. it does raise the question why they are bothering to meet at all becaus

they have also heard from the brexit secretary stephen barclay who has talked about the proposals andromise, and brightly speaking, or in part, they have to use of technology for the check of goods to ablate the controversial backstop. he says that those plans are be considered that the uk will break but the eu to use them not as a replacement for the backstop the smg that will avoid the backstop or the need at the backstop further down the line. let's have a listen. this is existing technology. it is part of the future relationship we will have. it will avoid the need of the backstop in the hand of teacher parliamentarian. they do not want to go in the backstop any more then the uk does. it is important to use technology and building our future relationship. the question remains about what to do in the backstop in the immediate time. stephen barclay will be returning to brussels in the coming days with proposals from the attorney generaljeffrey cox about how to that may be tweaked or changed, but there was also a sign this evening up from the mps who we re this evening up from the mp

firms that rake in profits but there are others that are frankly pretty wobbly they're going through barclays and. mile or so says german companies need to lead the pack when it comes to innovation in new technologies like artificial intelligence or driving systems for cars of the future burden is planning to help kick start that development with billions in new investments which should also help pretty. german chops that's off a business thanks for watching. mum. for dreamgirls international talk show it's me that your mom two is a german politics and your of resolve bitter divisions over migration of the government it is said stead into the abyss could friendly fire for president trying to defeat one of the strongest military alliance in the street my guests have to say on point three good. morning go on d w. language courses. video audio. anytime anywhere. w. n n gemini live. at any time any place easy names video yeah i love the look of the crowd. to sing along to you as the combo from super. for. interactive exercises. everything is online. interactive german for free with d w. frank foo

transfer giant money gram has moved its european headquarters from london to brussels even british by barclays has shifted assets to dublin as part of its price of contingency plans all their major banks are also on the move. the city of london this financial powerhouse generates more than ten percent of britain's total tax revenue but since to reason may's bricks it bowls started rolling companies here are all about one saying upping sticks and heading east to europe however no one seems willing to divulge just how many jobs have shifted to other e.u. countries for financial consultants though such figures are key the wise john liver gives us a rough estimate at least seven thousand so far. those numbers they were as over couple of months ago so we would expect them to be increasing and then in terms of the scale of the relationships that move the customer relationships. that around about eight hundred billion pounds of assets again had been declared. you can fire moved from london to frankfurt in his native germany last summer with him when banks european interest rate trade britain will now

. >> that was the ceo of barclays. coming up next, philadelphia .ersus the banks area we will have the details after this. this is bloomberg. ♪ >> it may be the biggest event in a decade. philadelphia is suing seven banks. of city is accusing them costing local governments billions. amanda all right has been covering the story. she is here. >> this is definitely huge news today. city of philadelphia class action lawsuit alleges that the seven banks working together to keep interest rates on variable-rate debt on high. allegations are very significant the philadelphia is raising. this is a serious allegation and a high profile law firm is behind this class action lawsuit. banks are also facing for other lawsuits filed across the country. the charges are similar. this class action lawsuit has much broader scope because mormonism palette is could join the suit. the damages could be extremely high. there could be over a billion dollars in potential damages. philadelphia is suing on behalf of cities, universities and half g

she does not have a guarantor, so barclays agents even acted her. another brand -- private landlord evicting a harvard king family on universal credit. will a minister intervene and ask barkley to grant her tendencies so her goals in the 230,000 children in this country in temporary accommodation. >> obviously one of her honorable friends raised in individual constituency cases, i will ask, look into that case -- he asked me, she is asking me to take a position purely on the question she has asked. i am asking the minister of the relevant the permit to look at the case and be able to assess the case and respond to the honorable lady. >> we will be debating the crime bill, the cross-border exchange of data enabling us to investigate crimes like terrorism and billiards. is a responsibility of all of those in the house to wholeheartedly support the bill? >> i say absolutely. this is a very important bill, the impact it will have. everybody across the house wants to ensure we deal with terrorism and other organized crime. exchange of data is a way of do

firms the rake in profits there are others that are frankly pretty wobbly they're going through barclays and. my also says german companies need to lead the pack when it comes to innovation in new technologies like artificial intelligence or driving systems for cars of the future is planning to help kick start that development with billions in new investment which should also help pretty. german jobs that's all for business thanks for watching us. kickoff. costs to buy and to suffering toxic speech in a music shop just in the tastes knoxy now could you see the contradiction of the shutting them out and second spots tse sixteen. yes you know i mean in your minutes i'm gone yes. most of the time what i'm focused on him is you know what i'm with what i'm organized you know i'm not going to sit there i'm. going to you say yes you can only save but are going on one of the really fun to. shoot. this is deja news africa coming up in the next fifteen minutes digital democracy with internet censorship on the rise in africa. we are asked just how important cyber freedom is. and one of africa's gre

outstanding firms that rake in profits but there are others that are frankly pretty wobbly the guys from barclays and. mile also said german companies need to lead the pack when it comes to innovation in new technologies like artificial intelligence or driving systems for cars of the future and is planning to help kick start that development with billions in new investment which should also help protect german jobs. earlier we asked clemens first from the eye of institute one of europe's leading business think tanks whether he thinks germany's economic situation was so dire that required a national strategy like the one presented today here's what he said it's not bad at all but this is about the future the question is whole sustainable is the position of german industry and here they're read. as far. as the issue of the car industry the diesel technology may be phased out in the future so i think it is true that germany needs to think about the future the question is though what the right strategy is. the european union is likely to block a merger between the german industrial giant siemens and

today, just to say, today brexit secretary stephen barclay, the attorney general are going to brusselsnd sort out the change told, to try and sort out the change to this irish backstop or sums legal document on the side of it or whatever it might look like, what are your hopes for us living europe with a deal? hopes, hopes and dreams? they were left long ago. i was giving a talk about the markets, financial markets and brexit, and i said look, there is one thing people do not expect you to say, which is we do not know. it would be a gamble ifi we do not know. it would be a gamble if i was to tell you which we think it is going to go. of course we've got hope, that stability, that went out of the window yonks ago. it is going to be gamble, if i was to try and guess which way the markets would go off the back of what might 01’ would go off the back of what might or might not happen in europe, we do not know. it is farcical and. all right, that great little bit of insight. that is the best insight you are going to get from anybody because it is honest. and at times front—page, bad bankers

(justine)east bound is now open.but westbound still closed.crew officer andrew barclay / california highway patrol :17 dur :08on the phone / tony tavares / caltrans district 4 director :43 dur :07this truck just could not make it. it got stuck in the flood on highway 37.beeen atherton and 1 shutdown for much of wednesday...too much water from the novato creek went over its banks.. and on to the road way.the california highway patrol does not want drivers to get trapped.sot obey closure do not go through it do not go through standing water you think might be slightly deepthis section that flooded - is different than the part that flooded just a few weeks ago.caltrans is in the process of pumping water off the road and creating a dam... while massive sandbags try to keep the water in check. the caltrans director for district 4 has crews working 24/7. on reopening 37.sot hopefully in the next few days we will have the receeding for the water and we can make sig progress it is late we will work through the weekend and by the beginning of the week we will have it reopening (justine)other issue i

we have moved our own organisation, ba rclays, has have moved our own organisation, barclays, has movede prepared for the outcomes. equally what is happening in the city if you have got this vibrant economy coming through from sieber and fintec, so while we see some sources in the city we see a net increase of people coming into the city of 42% internationally. it is still quite a vibrant economy. you mention about 42% internationally. you have come from for cities and singapore is your last stop. what has been the clamourfrom your last stop. what has been the clamour from many of the business your last stop. what has been the clamourfrom many of the business if you have spoken to from tokyo, hong kong, seoul and now singapore. you have spoken to from tokyo, hong kong, seouland now singapore. i'm sure they want certainty. but we are living now in the 21st century and the digital era. in the singapore— uk future partnership around digital it is very much about exploring where we are going. brexit is a short—term frustration. but the excitement is around the innovation thatis excitement i

that is not -- of barclays is closed -- as opposed to.mberg's erik schatzker who is joined by gregory fleming. ik: we know greg fleming's name from morgan stanley and merrill lynch. some of you know that greg fleming runs a marathon. great to see you. gregory: great to see you. erik: let's remind everybody what you're doing. rockefeller capital management. yet the legacy business of rockefeller and company but you are doing more. the core of what we are doing his wealth management for ultra high net worth individuals and family. high end wealth management. we do it through rockefellers global family office. a privateat we have wealth management division and a multi family office. the private wealth management division leads with the investment focus and the multi family office is more planning led. we announced a new president, tim o'hara, who had a long career in that space. clients get the same products and services whether they are in the private wealth side of our family office or the multi family office line. the multi family office

barclays bank says it will move $128 billion worth of clients‘ assets to dublin if there's no brexit gives it an example of what some are doing. ford has also warned a no deal would cost it $800 million, forcing it to cutjobs at its plants in the uk. bank of england governor mark carney believes the lack of a smooth transition could have a real negative effect on the uk economy. if we come back in may, if there is no deal, no transition, i guarantee you the path of gdp in our forecast will be materially lower than it is in this forecast, the seborrhoeic forecast which issues there is a deal and a smooth transition. joining me in the studio now is lesley batchelor, who's a director general at the institute of export and international trade. lovely to see you again. you have looked at report. what did you make of it? there is no real news in there. it is good to see it in one place i suppose and good that we are beginning to highlight it all, although it feels a little bit late. it does feel a little bit late. i thought there was nothing i haven't heard before. in terms of predictions

supportge funds -- win -- 2.5% in barclays. barclays. plain whentself some it unloaded it deutsche bank stock. double its price. hna owned almost 10% of deutsche bank. saudi arabia is dining a report been solomon made a $4.9 billion bid for minister united in november. after the uproar of mall shoji bloomberghat is the is the/. francine: election postponement in nigeria, last minute delay investord confidence. an election body colluded -- what it means. us andou for joining briefing us on what happen. what are the consequences of the postponement? thise consequence of raises the question of the theetency of the body of electoral body. most nigerians are saying they may not be able to go out next week. at the end of the day, the vote was canceled. it creates a lot of disappointment. they are -- francine: what does it mean for the candidates? is there some one who can benefit from this? does it mean the reputation of the entire political class is thrown away? it is a contention between the two leading parties. thisnalysts are say

will tell you what that meanswe with the head of public policy research at barclays. that is coming up next. from new york, this is bloomberg. ♪ david: this is "balance of power" on "bloomberg television." i'm david westin. first word news now. mark: president trump said he is declaring a national emergency on the u.s. southern border in order to him walk money to build a border wall. this will allow him to bypass congress, to spend a total of $8 billion on the wall. the president said he knows that there will be legal challenges filed. pres. trump: i expect to be sued. i shouldn't be, very rarely do you get sued when you declare a national emergency. and what are we using it for? we will get rid of drugs, and gangs, and people. it is an invasion. mark: nancy pelosi and chuck schumer called the emergency declaration, "an unlawful declaration over a crisis that is not exist." theresa may has two weeks to salvage a brexit deal. a vote yesterday stripped her of a mandate to demand changes to the irish border backstop. we have learned that the brexit secretary will meet w

>> jump ball >> i think it's you. >> we're going to keep an eye of shares of barclay's. back to profit from 2017 losses the question is whether they're setting aside enough this time it's $170 million sighting what they're calling a lot of uncertainty and i'll till, i had that interview with the head of the s.e.c. a month or two ago, and he said that what he thought was that u.s. companies were not setting aside enough money for brexit. in terms of how they do disclosures, they need to start thinking about this wrash. >> reuters has started outlining memorandum of understanding. this on six of the stickiest issues in that trade dispute, including intellectual rights cyber theft, and currency manipulati manipulation zbloinchts u.s.-china trade tensions starting to take a big toll on china's export sector. a slew of chinese workers have been laid off as a nation grappling with the fall-out. eunice has more. >> thanks, melissa well, the companies where i am in the manufacturing south have already been hit by the uncertainty over the tariffs exporters and workers alike have

meanwhile, number ten says the brexit secretary, stephen barclay, had a constructive meeting with theiator, michel barnier, in brussels last night. but the european union is continuing to insist it won't renegotiate the withdrawal agreement. it is clear from our it is clearfrom our side it is clear from our side that we are not going to reopen the withdrawal agreement, but we will continue our discussion in the coming days. our political correspondent ben wright is in westminister this morning. i feel it is probably time to take the temperature this week. whereabouts are we with all these discussions? that is a good question, i think pretty much where we we re question, i think pretty much where we were about to make weeks ago, i think. we drift on. the eu is still waiting for the government to come up waiting for the government to come up with some sort of new viable plan, a way of unlocking this problem around the irish backstop, which is there to prevent a high border between northern ireland and the republic after brexit. theresa may said three weeks ago after that huge defeat in

causing the west bound side of the road to shut down friday morningofficer andrew barclay, california highway patrolit only takes about not even an inch for a vehicle to hydroplane, further than that if you were to drive in the slow lane right now. it's high enough that if you were to driveright now, the vehicle would suck in that water and just die."water on the westbound side is up to a foot deep and chp says it's just too dangerous for people to drive on ...a detour is set up for drivers to exit at atherton avenue and take that road to 101 in novato.it's a headache for commuters -- but jeff weiss with cal trans says drivers are cooperating.jeff weiss, cal trans spokesperson "it's bad news for your commute but i think people who drive this road a lot know it's prone to flooding"tonight at 8 -- cal trans say a contractor is coming out to attempt to fix the levee ... and one of the two eastbound lanes on highway 37 will be closed.when it will reopen ... and when the westbound side will reopen ... is still unknown."there's no place for the water to go so when it starts rising here ...

ubs was just clear to move barclays, we have moving its operations to dublin.et closer to march into that, do you expect more of the city to flee to the continent, ireland? -- james: we have been discussing the issues of relocation and processes. we have seen those plans involving overtime. some operations being moved to the consonants paired as a cautious plan, that makes sense. but i would go back to the underlying principles, the reason london is the financial center it is. the reasons are numerous and most of them don't relate to membership of the eu. i believe that given the amount of clearing and wealth, it will be very difficult, even and a less positive brexit outcome, it will be difficult to sever those times without causing huge disruption. and what's the you say about the bank of england and their right path? they have cut their forecast for growth, that was the headline. they also talked about how that if there was a deal, the bank of england might raise interest rates and continue to do so by 25 basis points until the end of 2020. their view, what